Youdao, Inc. (DAO) SEC Filings & Earnings Calls
EquiReason read 7 Youdao, Inc. SEC filings in the last 12 months. Latest: 6-K on 2026-08-20 — Youdao reported Q2 2026 revenue up 3.5% YoY, operating income up ~2.9x, and net income vs loss YoY; gross margin expanded to 48.9% from 43.0%..
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 2.3B
- P/E TTM
- —
- Dividend yield
- —
- 52-week
- —
- Next earnings
- 18 Nov, in 25 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
20 Aug 20266-KYoudao reported Q2 2026 revenue up 3.5% YoY, operating income up ~2.9x, and net income vs loss YoY; gross margin expanded to 48.9% from 43.0%.earningsopen
Figures in the filing · each found in the filing text
| Gross margin · Q2-2026 | 48.9% |
Risks flagged
Smart device demand decline may indicate product lifecycle or competitive pressure.
“Smart devices revenue down 31.5% due to decline in demand.”
Online marketing revenue decline due to strategic shift may impact near-term growth.
“Online marketing services revenue down 7.7% reflecting disciplined engagement acceptance.”
21 May 20266-KYoudao reports Q1 2026 revenue up 3.8% YoY, operating income down 44.7% YoY, smart devices revenue down 42.6% YoY, online marketing up 20.9% YoY. Mixed results with growth in learning and marketing offset by device decline.earningsopen
Figures in the filing · each found in the filing text
| Gross margin · Q1-2026 | 44.7% |
Risks flagged
Smart devices segment decline may indicate structural demand weakness
“Smart devices revenue down 42.6% YoY due to decline in demand”
Operating margin compression from increased sales and marketing spend
“Sales and marketing expenses increased 6.9% YoY; operating margin fell from 8.0% to 4.3%”
15 Apr 202620-FYoudao reported net income for FY2025, maintaining profitability achieved in FY2024, with online marketing services revenue growing strongly.earningsopen
Risks flagged
VIE Structure Enforceability
“If the PRC government finds our contractual arrangements non-compliant with relevant PRC laws, regulations, and rules... we could be subject to severe penalties or be forced to relinquish our interests in the VIEs.” · word for word
Regulatory Crackdown on Tutoring
“Our compliance with the Opinions on Further Alleviating the Burden of Homework and After-School Tutoring... has materially and adversely affected and may continue to affect our and the VIEs’ business.” · word for word
Working Capital Deficit
“We had working capital deficits... of RMB1,460.2 million and RMB1,212.4 million (US$173.4 million) as of December 31, 2024 and 2025, respectively.”
Dependence on NetEase
“NetEase... beneficially owned... 67.1% of the total voting power... NetEase’s voting control may cause transactions to occur that might not be beneficial to you as a holder of the ADSs.”
AI Regulatory Compliance
“The regulatory and legal framework on generative AI is constantly evolving... we cannot assure you whether we will be able to comply with the requirements of such laws and regulations in a timely manner or at all.” · word for word
11 Feb 20266-KYoudao reports Q4 2025 revenue up 16.8% YoY to RMB1.6B, sixth consecutive quarter of operating profitability, and first full year of positive operating cash flow.earningsopen
Figures in the filing · each found in the filing text
| Gross margin · Q4-2025 | 45.1% |
Risks flagged
Decline in smart devices revenue and gross margin pressure in online marketing.
“Smart devices revenue down 26.6% YoY; online marketing gross margin fell to 27.8% from 34.2%.”
20 Nov 20256-KYoudao reports Q3 2025 total net revenues of RMB1,628.5 million (US$228.8 million), up 3.6% YoY; income from operations down 73.7% YoY to RMB28.3 million; gross margin declined to 42.2% from 50.2%.earningsopen
Figures in the filing · each found in the filing text
| Gross margin · Q3-2025 | 42.2% |
Risks flagged
Significant gross margin decline; operating income down 73.7% YoY; reliance on lower-margin online marketing services.
“Gross margin declined from 50.2% to 42.2%; operating income down 73.7% YoY.”
Youdao, Inc. — questions
- What did Youdao, Inc. file recently?
- 7 SEC filings in the last 12 months. Latest: 6-K on 2026-08-20 — Youdao reported Q2 2026 revenue up 3.5% YoY, operating income up ~2.9x, and net income vs loss YoY; gross margin expanded to 48.9% from 43.0%.
Every figure on this page comes from Youdao, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.